Very thorough explanation. It would suggest that a track ripped at 128 kbps / 44.1kHz should sound no different than the same track in HD. I can tell you, however, that the HD track sounds much clearer (less noise) and more stage presence than the same track at the lower bit/sample rate. Perhaps 192/24 is overkill (Most of my HD tracks are at a lower rate than that). The bottom line for me is, when played on the right player (I've gat a FiiO X5) the HD tracks of the same song in HD FLAC format sound much better than the .MP3 files I can get from iTunes.
I have songs in both formats and with the HD I hear subtile differences that make the music seem much more "alive" - almost as if I'm sitting in the studio with the performer. Now, he said 192/24 is silly. I can't disagree with that, which is why the HD tracks I've bought are at a lower bit rate than that, but still higher then the iTunes .MP3 files.
When I listen to samples of the HD songs at 96/24channel vs 192/24, I can't hear any discernible difference, so I get the lower 96/24 versions and am quite happy. The same songs from iTunes Store at their standard .MP3 file sounds "ok" but when compared to the HD tracks, well, the HD tracks just sound much better. Whether that is due to the sample rate or the bit rate, or something else doesn't matter to me, only that the lossless FLAC files sound much better.
UPDATE: When I compared P Floyd's DSOM between the 44.1Hz Apple Lossless and the HD 96/24 versions, I was listening to the 44.1 version (which I ripped myself from the CD) on my computer via iTunes, but the higher rate on the FIIO X5. When I put the 44.1 version on the X5, the difference, while there, isn't as dramatic. (There is some difference, but if push came to shove, I'd be happy either way). This suggests that the important factor here may be the DAC/sound chip being used (My Mac's DAC/Sound card vs that found in the X5, which is specifically designed for higher rate files). It also suggests that anything above 44.1 (e.g., Apple lossless) might be overkill. Certainly 192Hz is overkill, no question.